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Using TurboCASH

 







NEW TO ACCOUNTING
DEBITS AND CREDITS - LIST OF TRANSACTIONS
  
The following list of most commonly used transactions illustrates the debit and credit transactions on the double entry accounting principle:

 

TRANSACTION DEBIT CREDIT
Capital - cash contribution Assets - Bank Capital
Sales - cash Assets - Bank Income
Sales - credit Assets - Debtors Income
Purchases - cash Assets - applicable Assets - Bank
Purchases - credit Assets - applicable Liabilities - Creditors
Expenses - cash Expenses - applicable Assets - Bank
Expenses - credit Expenses - applicable Liabilities - Creditors
Debtors - receipts Assets - Bank Assets - Debtors
Creditors - payments Liabilities - Creditors Assets - Bank